Experts Financial News

Voltas Ltd. with a target price of Rs 1000.

gold or silver, these precious metals are so ubiquitous that they’ve now become a part of our language. However, when it comes to an investment perspective, people have stark views towards gold. For some, gold is a very polarising topic in the investment community while there are some who swear by it.

Stock market today: After announcement of Yes Bank Q2 results 2023 on Saturday last week, Yes Bank shares today came under the sell off heat. Yes Bank share price today opened higher at ₹17.40 apiece levels, but soon came under the sell off heat and hit intraday low of ₹16.75 per share levels, losing to the tune of 2.50 per cent during early morning deals on Monday.

ICICI Bank share price gained over a percent on Monday after the private sector lender reported better than expected earnings for the quarter ended September 2023. ICICI Bank share price gained as much as 1.32% to ₹944.80 apiece on the BSE. Private lender ICICI Bank reported a 35.8% YoY rise in its standalone net profit to ₹10,261 for the second quarter of FY24.

₹1,500 crore. Also a leading industry voice and prolific tea taster, Desai was part of the on federation of Indian Industry (CII), among other bodies.

Religare Broking pointed out that the Nifty has been hovering in the range of 19,300-19,850 for almost a month now and inching lower after retesting the upper band. "We feel fresh weakness in the banking majors combined with the resumption of decline on the global front could push the index lower and 19,200-19,450 would continue to act as a crucial support zone," Mishra said. "Resilience in select heavyweights from auto, FMCG, pharma and realty majors would continue to offer buying opportunities.

ICICI Bank gained over 1% on Monday to hit the day's high of Rs 944.80 on the NSE following strong September quarter earnings. The stock was the top Nifty gainer despite a lacklustre opening trade. The stock also gained on favourable views taken by a couple of top brokerages including Jefferies, Kotak Institutional Equities, Motilal Oswal and Nuvama, all of which recommended a buy on the counter.

Domestic benchmark index NSE Nifty fell 15.5 points to 19527.15, while the BSE Sensex traded 19.27 points down at 65378.35. On the other hand, Macpower CNC Machine, BSE, Zodiac Energy, CreditAccess Grameen and South West Pinnacle stocks hit their fresh 52-week highs today.

The NSE Nifty index traded 64.45 points down at 19478.2, while BSE Sensex was down 181.65 points at 65215.97 as of 10:19AM(IST)on October 23. In the Nifty index, Dr.

JSW Energy and a buy on Paytm. CLSA retained an outperform rating on Kotak Mahindra Bank and Jefferies recommended a buy on ICICI Bank post Q2 results. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: CLSA on JSW Energy: Sell| Target Rs 250 CLSA maintained a sell rating on JSW Steel but raised the target price to Rs 250 from Rs 234 earlier. CLSA on Paytm: Buy| Target Rs 1200 CLSA maintained a buy rating on Paytm but raised the target price to Rs 1200 from Rs 1050 earlier. GMV growth was good.

NMDC Ltd, part of the industrial mineral industry, rallied more than 40% in the last 3 months which helped the stock to break out from an Inverted Head and shoulder pattern on the weekly scale. The breakout has opened room for the stock to head towards 200 levels in the next 3 months, suggest experts. Short-term traders can look to buy the stock around 160. The stock rose from Rs 111 as of 20th July 2023 to Rs 158 recorded on 20 October 2023 which translates into an upside of over 40% in just 3 months. It hit a 52-week high of Rs 167.55 on 17th October 2023 last week, but it failed to hold on to the momentum.

Strong rally in the broader market in the recent months has brought valuations closer to historical highs in a few pockets, but Samco Mutual Fund believes there is more steam left in this momentum. “Thinking from the perspective of a momentum or relative strength investing, we see a lot of strength in the small and mid-cap space. One should hold on to them till the party is going on, but with much more caution and tighter stops,” said Viraj Gandhi, CEO of Samco Mutual Fund. Edited excerpts: The latest AMFI data showed that the pace of inflows has slowed down in midcap and small-cap funds. Is this a sign of fatigue? The pace is still intact in the midcap funds as in September, it was the second highest in the last 12 months. Small-cap funds also saw a decent inflow of about Rs 2,700 crore.

The S&P BSE Sensex fell more than 200 points while the Nifty50 closed below 19600 on Friday. India VIX was down by 0.76% from 10.89 to 10.81 levels in the previous trading session. Volatility has been moving in a narrow range around 11 zones and thus not creating any major panic in the market with a capped upside. On the monthly options front, the maximum Call OI is placed at 19800 and then towards 19600 strikes while the maximum Put OI is placed at 19500 and then towards 19000 strikes. Minor Call writing is seen at 19600 and then towards 19700 strikes while Put writing is seen at 19400 and then towards 19500 strikes. “Options data suggests a broader trading range in between 19350 to 19850 zones while an immediate trading range in between 19400 to 19750 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said. “Nifty formed a Doji candle and an Inside Bar on the daily frame on Friday and has been making lower highs from the last three sessions.

Mayuresh Joshi, Head-Equity Research — India, William O Neil, says “as prices recover on the LME with China demand expected to come back in the next financial year, even the top-line growth in terms of realisations for a lot of ferrous players will continue to gain traction in the next year and a half as well. So domestic steel companies like JSW Steel can continue. Who would have thought a steel company in the last 10 years would have given you a 9x return? Domestic steel companies are still holding out. The expectations that are now coming off is that a large part of the capex is largely behind us. I think some part of the capex is going to get carried forward in this financial year and the first half of the next. But the bulk of that capex is probably behind us.

Rahul Shyam Shukla, Head — Commercial & Rural, HDFC Bank, says “agricultural lending is a higher NPA segment because it goes through weather pattern considerations, hailstorms, rains, less rains, more rains, floods, etc. If you are maintaining a GNPA somewhere between 4% and 5% and you have priced it correctly, then you are all right.” On Guidance for Commercial & Rural The guidance we always give is that, look, you should expect 25 to 30% growth rate.

“We expect nominal GDP growth of 10% to 11% in the next 12 months, which should be in line with 11% to 13% return for large cap indices,” says Pradeep Gupta, Co-founder & Vice-Chairman, Anand Rathi Group. In an interview with ETMarkets, Gupta said: “Market timing and the selection of specific instruments within an asset class explain only about 10% of portfolio return variability” Edited excerpts: October is turning out to be a roller coaster ride for investors in equity markets. Will geopolitical concerns have a long-term impact on equity markets if things escalate? Major indices across the globe witnessed sharp volatility in the past couple of weeks due to the rising Israel-Palestine war. In the same week, we witnessed the U.S. stock-index futures fall over 0.5%, Nifty was down ~140 bps pts.

Oil prices eased on Monday as aid convoys started to arrive in the Gaza Strip over the weekend amid diplomatic efforts to contain a conflict between Israel and the Palestinian Islamist group Hamas from spreading to the wider oil-rich region. Brent crude futures fell 60 cents to $91.56 a barrel and U.S. West Texas Intermediate crude futures lost 61 cent to trade at $87.47 a barrel at 0038 GMT. For the past week, contracts rose more than 1% for a second consecutive weekly jump, on fear of potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world's biggest oil-supplying region. «Israel agreed to hold off its attack on Hamas following pressure from the U.S.,» ANZ Research said in a client note.

Sensex fell 231 points to settle at 65,397 and the Nifty declined 82 points to 19,542. Stocks that were in focus included names like Tanla Platforms, which rose 4%, YES Bank, which gained 1.76%, and Tata Communications, whose shares declined 3.82% on Friday. Here's what Pravesh Gour, Senior Technical Analyst at Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today. Tanla Platforms The counter has witnessed a breakout of a long consolidation on the weekly chart with strong volume. The structure of the counter looks good, as it is trading above all its important moving averages. In terms of potential price levels, immediate resistance is anticipated at Rs 1150.

Japan's yen took the spotlight in Asia on Monday, circling the 150-per-dollar level in a tug of war between investors betting on a further rise in dollar yields and those expecting Japanese authorities will intervene in markets. The week kicks off with growing worries about the Middle East conflict as Israel bombarded Gaza with air strikes early on Monday, extending a two-week bombardment that began after an Oct. 7 rampage by Islamist group Hamas on southern Israeli communities, and as the United Statese dispatched more military assets to the region. U.S.

Gold prices fell on Monday, retreating from a five-month peak scaled in the previous session, as robust U.S. Treasury yields cut demand for the non-yielding asset ahead of key inflation and economic growth data due later this week. FUNDAMENTAL Spot gold dropped 0.8% to $1,965.89 per ounce by 0104 GMT, and U.S.

Kotak Mahindra Bank: After the resignation of Uday Kotak as CEO and MD of Kotak Mahindra Bank, international banker Ashok Vaswani, on Saturday, was announced as the next CEO. Unlike experts' prediction of the appointment of an insider in the top leadership role, Kotak Mahindra Bank chose to bring the “Global Indian" back home as its next CEO. Ashok Vaswani holds immense experience in a wide range of fields from AI to banking.